Finolex Industries posts highest ever Q2 results
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Q2FY22 Net Revenue is up ~ 85% at Rs 1,082.95 Cr and EBITDA more than doubles to Rs. 301.46 Cr
Pune, 1st November, 2021: Finolex Industries Limited (NSE:FINPIPE|BSE:500940), India’s only backward integrated manufacturer of PVC Pipes and Fittings, at its Board Meeting held today announced unaudited financial results for the second quarter ended September 30, 2021.
Key Financial Highlights: (INR- Cr)
Q2 FY22 Highlights:
* Total income from operations was Rs 1,082.95 Cr for Q2FY22 – up 84.9% against Rs 585.55 Cr in Q2FY21.
* Volume in Pipes & Fittings segment grew 27.1% to 55,453 MT in Q2FY22 against 43,618 MT in Q2FY21
* EBITDA stood at Rs 301.46 Cr for Q2FY22 – up 108.3% against Rs 144.76 Cr for Q2FY21.
* Profit after tax was at Rs 235.08 Cr for Q2FY22 – up 96.4% against Rs 119.72 Cr for Q2FY21.
H1 FY22 Highlights:
* Total income from operations was Rs 2,048.67 Cr for H1FY22 – up 78.5% against Rs 1,147.44 Cr in H1FY21.
* Volume in Pipes & Fittings segment grew 15.3% to 1,11,272 MT in H1FY22 against 96,529 MT in H1FY21
* EBITDA stood at Rs 510.98 Cr for H1FY22 – up 119.3% against Rs 233.02 Cr for H1FY21.
* Profit after tax was at Rs 381.88 Cr for H1FY22 – up 118.4% against Rs174.83Cr for H1FY21.
Offering a perspective on these outstanding numbers, Mr. Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited shared, “The Company's strong fundamentals are reflected in our excellent growth on all operating parameters. The double-digit percentage improvement in volumes demonstrates the resilience of our business. Moreover, what's already paying off, is our long-term commitment to extend our product mix and reputation in agriculture, into the booming sector of plumbing-sanitation.”
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